Lyor Cohen has just announced his departure from his position as Chairman/CEO of Warner Music Group after eight years. More after the jump.
No word as to who will takeover, but it’s rumored former EMI CEO Roger Saxon will take position. Lyor Cohen speaks on his departure:

“To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: ‘keep on keepin’ on’ in the tradition of a company that respects and honors the artistic community.”

Warner Music Group CEO Stephen Cooper added:

“Lyor Cohen has built something very special here. While we understand his desire to move on to his next challenge, the enduring success of our recorded music division will serve as a great testament to the progress we’ve made during Lyor’s time at WMG. We are grateful for Lyor’s contributions, and we wish him the best. I’m confident that given the strength of our talented management team in Recorded Music, we’ll be able to drive further success.”